Video: Who is Paul Ryan?

Cliff notes on Mitt Romney's running mate.

The headline that US Representative Paul Ryan would become Mitt Romney's choice for Vice President came, not over the news wire, but via social media today.

Which brings us to the inevitable question: Who is Paul Ryan?

Paul Ryan is a Republican who represents Wisconsin's 1st Congressional District and is Chairman of the House Budget Committee, which writes the country's overall budget plan.

Ryan is known for his conservative economic positions. When he revealed his budget plan, “The Path to Prosperity,” many conservatives trumpeted it as a serious and brave answer to America's ills.

Of course, Ryan is not without his detractors. The Atlantic's James Fallows gave oppositional voice against Ryan's plan, calling it "partisan" and "gimmicky." New York Times' resident Nobel Prize winning economist and opinion man Paul Krugman called Ryan's plan, "Ludicrous and cruel."